TopConsumerReviews.com
      February 8, 2016
Home About Us Terms Privacy Policy Contact Us Disclosure

Home  >  Mortgage Refinance

Your Information Is Secure
Mortgages: The Complete Guide Newsletter

Latest Reviews

Bedding

Business Insurance

GMAT Test Prep

Gout Relief

Living Trusts

Living Wills

Memory Loss

Pajamas

 

Related Articles

The Basics of Refinancing Your Home Mortgage

What to Know Before Refinance Your Home Mortgage

The Latest News in Home Mortgage Refinancing

 

 

 

 

 

Backup Your Computer with My PC Backup Today!

 

 

 

 

Sky Blue Credit Repair

Mortgage Refinance
Better Business Bureau Reliability Seal Share TopConsumerReviews.com
on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Refinance Now with Lendingtree! Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for?

TopConsumerReviews.com has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.

2016

Mortgage Refinance Reviews

5 stars
Lending Tree

LENDING TREETopConsumerReviews.com Best-In-Class Blue Ribbon Award

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More... Visit
Site

4 stars
Quicken Loans

QUICKEN LOANS

Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans. Read More... Visit
Site

3 stars
The Easy Loan Site

THE EASY LOAN SITE

The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit
Site

3 stars
Loan App

LOAN APP

In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More... Visit
Site

2 stars
Rate Marketplace

RATE MARKETPLACE

Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list. Read More... Visit
Site

1.5 stars
Mortgage Search 123

MORTGAGE SEARCH 123

Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit
Site

1 star
Lower My Bills

LOWER MY BILLS

Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information. Read More... Visit
Site

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.

 

 

 

How to Avoid Mortgage Refinance Scams

If you're a current homeowner, scammers might be targeting you to refinance your mortgage. They'll use email, phone calls, fliers and even direct mail to lure you in, but beware - these scams are designed to steal your money or personal information.

Published:  Wed, 03 Feb 2016 11:24:00 GMT



Former Fed chairman Bernanke turned down for mortgage refinance

Things are tough all over: Even the former Fed chairman can't refinance his mortgage. Ben Bernanke said the mortgage market is so tight that even he is having a hard time refinancing his home loan. The former Federal Reserve chairman, speaking at a ...

Published:  Fri, 03 Oct 2014 10:18:00 GMT



Does a Mortgage Refinance Make Sense?

Does a mortgage refinance make sense? The answer to that common refinance question largely depends on your goals for your new mortgage and how long you plan to stay in your home. Indeed, there are several benefits to refinancing: You can lower your monthly ...

Published:  Sat, 01 Aug 2015 06:42:00 GMT



Tax Planner Reveals Mortgage Refinance Tax Deductions for 2016

Traverse City, MI -- (SBWIRE) -- 01/07/2016 -- Frank Ellis, a Traverse City tax preparation planner and author, explains what homeowners may have available to them in an Examiner.com article, "Mortgage Refinance Tax Deductions for 2016". Refinancing a ...

Published:  Thu, 07 Jan 2016 13:47:00 GMT



What Rising Mortgage Refinance Applications Imply for REITs

Mortgage refinance applications, as measured by the MBA (Mortgage Bankers Association) Refinance Index, rose 3.5% from 1,517 to 1,570 for the week ending December 4. Since mid 2013, refinances have been dropping dramatically. Homeowners with home equity ...

Published:  Thu, 10 Dec 2015 03:40:00 GMT



Mortgage refinance tax deductions for 2016

All mortgages benefit you tax wise via the interest that is paid on the loan. Mortgage interest is tax deductible if you meet the criteria's listed below: 1. The loan is for your primary residence or a second home that is not rented 2. Your home secures ...

Published:  Wed, 09 Dec 2015 10:43:00 GMT



5 Advantages of Getting a Mortgage Online

Calculators are also specialized for different situations (for instance, you can choose either a mortgage purchase calculator or a mortgage refinance calculator). Quicken Loans, the nation's largest online lender, has taken this interactivity to another ...

Published:  Thu, 28 Jan 2016 16:36:00 GMT



What Rising Mortgage Refinance Applications Imply for REITs

Mortgage Rates Fell, Applications Rose for the Week of December 4 (Continued from Prior Part) MBA Refinance Index increases Mortgage refinance applications, as measured by the MBA (Mortgage Bankers Association) Refinance Index, rose 3.5% from 1,517 to ...

Published:  Wed, 23 Dec 2015 19:04:00 GMT



 

 

 

Refinance Your Mortgage With LendingTree Today!

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us